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Christian Brothers Investment Services, Inc.

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Indicate what your engagement policy covers:

          Connection of our engagements to Catholic Social Teaching and our three core themes--Human Dignity, Environmental Stewardship and Economic Justice.
        

01.3. Attach or provide a URL to your engagement policy. [Optional]

01.4. Provide a brief overview of your organization’s approach to engagement

Our engagements are deeply connected to core Catholic Ethical and Social Teaching and three key themes--Human Dignity, Environmental Stewardship and Economic Justice. Our engagement approach includes well-informed and active proxy voting and disclosure to the public of those votes, dialogues with companies, original research, filing shareholder resolutions, attending annual shareholder meetings, public policy action, requesting improved disclosure in the markets on ESG issues from financial regulators, active ESG/CRI communications with our clients and the public, and stand-alone actions and well-coordinated activities with allied investors.

01.5. Additional information [optional]

See our policy documents in previous module for more information, including issue reports and engagement reporting.


LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements

          To shift public policy or regulation on core CRI priorities for our investors, like human trafficking or climate change.
        

Collaborative engagements

          To shift public policy or regulation on core CRI priorities, like human trafficking or climate change.
        

Service provider engagements

02.2. Additional information. [Optional]


Process

Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take following your engagements.

04.3. Indicate whether your organisation defines milestones and goals for engagement activities carried out by internal staff.

04.4. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

04.5. Additional information. [Optional]

As a long term institutional investor, attempting to fundamentally change corporate behavior and corporate perspectives on a wide variety of ESG issues, CBIS starts with an understanding that the types of change required are not easy and take some time to impact.

CBIS has developed a process for defining success that takes this long-term perspective into consideration. This is outlined in a brochure, available to all investors, that describes our active ownership process. We also have routine reviews of our engagements to determine which ones should end based on goals being achieved.


Process for engagements conducted via collaborations

LEA 05. Process for identifying and prioritising collaborative engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

05.1. Indicate whether your organisation has a formal process for identifying and prioritising collaborative engagements

05.2. Describe the criteria used to identify and prioritise collaborative engagements

05.3. Additional information [Optional]


LEA 06. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Indicate if you define specific objectives for your engagement activities carried out collaboratively.

06.2. Indicate if you monitor the actions companies take following your collaborative engagements.

06.3. Indicate whether your organisation defines milestones and goals related to engagement activities carried out via collaborations.

06.4. Indicate if you do any of the following to monitor and evaluate the progress of your collaborative engagement activities.

06.5. Additional information. [Optional]


Process for engagements conducted with/on your behalf by service providers

LEA 07. Role in engagement process

New selection options have been added to this indicator. Please review your prefilled responses carefully.

07.1. Indicate if you play a role in the engagement process that your service provider conducts on your behalf.

07.3. Additional information. [Optional]

Our service providers provide research, or proxy voting platforms, but we do all engagement in-house.


LEA 08. Monitor / discuss service provider information

08.1. Indicate whether you monitor and/or discuss the following information provided to you by your service provider

Please select all that apply

08.2. Additional information. [Optional]

We do engagement internally.


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers (Private)


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of engagements your organisation participates in.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

Service provider engagements

10.2. Additional information. [OPTIONAL]

CBIS tracks all engagements, including collaborative engagements. In 2016, CBIS participated in 27 engagements, not including regulatory or policy engagements or single meetings or calls with companies.


Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort

11.1. Indicate the amount of your listed equities portfolio with which your organisation engaged during the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion (to the nearest 5%)
Specify the basis on which this percentage is calculated

Individual / Internal staff engagements

6 Number of companies engaged
5 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

Collaborative engagements

21
5 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

11.2. Indicate the proportion of engagements that involved multiple, substantive and detailed discussions or interactions with a company during the reporting year relating to ESG issue.

Type of engagement

% Comprehensive engagements

 

 

Individual / Internal staff engagements

 

 

Collaborative engagements

11.3. Indicate the percentage of your collaborative engagements for which you were a leading organisation during the reporting year.

Type of engagement

% Leading role

 

 

Collaborative engagements

11.5. Additional information. [Optional]


LEA 12. Engagement methods

12.1. Indicate which of the following your engagement involved.

          Attending annual general meeting. Filing shareholder resolutions.
        

12.2. Additional information. [Optional]


LEA 13. Engagements on E, S and/or G issues

13.1. Indicate if your engagements in the reporting year covered E, S and/or G issues, providing an estimation of the breakdown.

Individual / Internal staff engagements

17 % Environmental only
17 % Social only
0 % Corporate Governance only
66 % Overlapping ESG issues
Total 100%

Collaborative engagements

24 % Environmental only
38 % Social only
0 % Corporate Governance only
38 % Overlapping ESG issues
Total 100%

13.2. Additional information. [optional]


LEA 14. Companies changing practices / behaviour following engagement (Private)


LEA 15. Examples of ESG engagements

15.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

15.2. Additional information. [Optional]

See the document attached in a prior module called CRI 2016 Active Ownership Plan for this detail. Or visit: http://cbisonline.com/us/wp-content/uploads/sites/2/2016/03/CBIS_PROGRESS_REPORT_MAR_10.pdf


Communication

LEA 16. Disclosure of approach to ESG engagements

16.1. Indicate whether your organisation proactively discloses information on its engagements.

provide URL

16.2. Indicate if the information disclosed to the public is the same as that disclosed to clients/beneficiaries.

16.3. Indicate what engagement information your organisation proactively discloses to clients/beneficiaries and/or the public.

Engagement information disclosed

          proxy votes
        

16.4. Indicate how frequently you report engagements information.

16.8. Additional information. [Optional]


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